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Snam Capital/Financing Update 2024
4042_rns_2024-11-26_9c1ca60a-605b-4703-8112-30c0f0b3f0e8.pdf
Capital/Financing Update
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| Informazione Regolamentata n. 0542-95-2024 |
Data/Ora Inizio Diffusione 26 Novembre 2024 09:17:12 |
Euronext Milan | |
|---|---|---|---|
| Societa' | : | SNAM | |
| Identificativo Informazione Regolamentata |
: | 198674 | |
| Utenza - Referente | : | SNAMN05 - Pezzoli | |
| Tipologia | : | 3.1 | |
| Data/Ora Ricezione | : | 26 Novembre 2024 09:17:12 | |
| Data/Ora Inizio Diffusione | : | 26 Novembre 2024 09:17:12 | |
| Oggetto | : | Snam dual tranche bond issuance listed on Borsa Italiana's MOT Professional Segment |
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| Testo del comunicato |
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This press release is available at www.snam.it
t
m.it Internal
snam press office T+ 39 02.37037273
snam investor relations T+39 02.37037898
ufficio
invest or.relations@sna
Snam dual tranche bond issuance listed on Borsa Italiana's MOT Professional Segment, the first ever by a large corporate for bonds dedicated to institutional investors
• First financial instrument issued by an Italian corporate listed on this segment of Borsa Italiana
• The listing follows the successful placement by Snam of a dual tranche Sustainability-Linked bond, totaling €1.5 billion equivalent: £600 million with a 12 year maturity and €750 million with a 7-year maturity, a significant milestone for the company in sustainable finance and funding diversification.
Milan, 26th November 2024 - Borsa Italiana today welcomes the listing on the MOT Professional segment of Snam's dual tranche Sustainability-Linked bond: £600 million with a 12-year maturity and €750 million with a 7-year maturity. These bonds are the first financial instruments issued by a large Italian corporate to be listed on the regulated segment of Borsa Italiana.
Snam has so far listed ten financial instruments on the unregulated ExtraMOT/Access segment of Borsa Italiana. This listing on the MOT Professional marks a strategic evolution, witnessing the fruitful collaboration between Snam and Borsa Italiana, as well as the greater attractiveness and efficiency of the Italy's domestic financial market.
"The listing of Snam's Sustainability-Linked Bonds on the professional segment of the MOT market fills us with pride, as it represents the first instrument issued by a large Italian corporate on this segment of Borsa Italiana", commented Maurizio Pastore, Group Head of Debt and Funds Listing at Euronext Group. "This confirms MOT's position as Europe's top bond market for liquidity, providing easy and quick access to both retail and institutional investors. Within the Euronext Group, from being a domestic market MOT evolved to a European hub, mainly thanks to the efforts of Borsa Italiana and the Italian financial operators. We congratulate Snam on the listing of these two large ESG issuances in Italy, which meets both corporate financing objectives and promotes sustainable finance".
"The listing on Borsa Italian's MOT segment of our dual tranche issuance is a key milestone, for Borsa Italiana and Snam, and it is aimed at maximizing the exchange of bond instruments among investors in the secondary market", commented Luca Passa, CFO of Snam. "We are very happy with this listing, which marks the debut of a large
Snam Press Office T+ 39 02.37037273 [email protected]
Snam Investor Relations T+39 02.37037898 [email protected]
corporate on this segment, and with the success of our dual tranche Sustainability-Linked issuance, inclusive of Snam's debut in the GBP market, which confirms the soundness of our sustainable finance strategy and growing investor confidence in Snam".
The total amount of the issuance, executed last week, was approximately €1.5 billion equivalent. The offer raised €750 million over seven years and £600 million over 12 years, marking Snam's debut in the UK market. Both tranches are tied to the company's ambitious CO2 emission reduction goals, as outlined in Transition Plan recently announced by the company.
The two tranches are aligned with the company's climate targets, which include a 25% reduction in Scope 1&2 emissions by 2027 and a 50% reduction by 2032. For Scope 3 emissions, Snam is committed to achieve a 30% reduction by 2030 and a 35% reduction by 2032.